A recent report by Morgan Stanley predicts that the global online lending industry will grow to between $150 billion and $490 billion by 2020. This demand will be answered by established alternative finance companies, and emerging online and marketplace lenders. However, alternative finance (AltFi) needs to devise a strategy to scale efficiently and understand that time-to-market is critical for success. To get there, you need an agile technology solution that grows your business with confidence.
An omnichannel user experience throughout the lending lifecycle
Automated decision making processes with instant credit approvals
Configurability to quickly launch new products
A single system of record that scales on demand
With the right technology, AltFi lenders can get to market in less than 90 days with full confidence that their loan management software has the requisite functionality to run back office processes efficiently. Automation allows lenders to focus on effectively incorporating new and innovative underwriting practices. Online lenders can deploy new loan management solutions using cloud technology in record time. Cloud technology easily scales to match your growth in today's fast-paced markets.
Small business lenders are facing new competitive pressures driven by changing borrower behavior, future regulations and new competitors. With borrowers looking online and making choices based on price, experience, quick funding and approval times, AltFi lenders must continue to lead the industry’s innovation curve. Streamlining origination, underwriting and servicing to offer smaller, more profitable loans online is imperative.
Cloud Lending’s leadership in online lending will fuel AltFi’s small business lending products and digitize the origination process to achieve a superior multichannel user experience. Cloud Lending Solutions leverages new sources of borrower data to make automated and more intelligent underwriting decisions. Through automated workflows, the entire lifecycle of the loan can be managed. CLS delivers efficient and cost-effective cloud technology for entire small business loan management lifecycle.
Historically, commercial lending for commercial real estate and C&I loans has tended to be time consuming and complex, largely due to reliance on legacy systems and manual processes. Now the competition is leveraging new innovations in lending, collaboration, integration and multi-channel user experiences to take market share away.
Cloud Lending Solutions provides an innovative and collaborative commercial lending experience that is fast, easy and consistent across channels. Our platform allows commercial lenders to use best practices in online lending combined with workflow tools to underwrite loans faster and with lower cost and errors. Innovative underwriting models help automate where needed while workflow automation ensures process compliance for complex commercial loans. Through centralized lending portal all authorized parties can share information, remove bottlenecks, and make faster decisions that reduce risk.
Consumer lending has never been more vibrant or challenging. According to CPI Financial, the value of the global consumer lending industry was $42.3 trillion at the end of 2015. The U.S. consumer lending industry is expected to reach an astounding $83.8 billion by 2022.
Cloud Lending Solutionsmakes online lending simple, fast and secure with a 6-Click™ lending model that returns decisions in minutes rather than days. Our solution digitizes the complete end-to-end loan process including origination, underwriting, servicing and loan collections, creating a single system of record for your consumer lending operations. With Cloud Lending Solutions, you can use innovative underwriting models to gain new customers. From application to funding and beyond, you can build a 6-Click online lending experience that will delight your customers, increase operational efficiency, and lower risk.
With a highly configurable and open architecture, Cloud Lending Solutions provides an end-to-end loan management solution for AltFi lenders, from origination and underwriting to servicing and collections. Our cloud-based solutions enable world-class user experiences that improve customer relationships. Our single system of record is the only solution supporting both consumer and commercial lending that scales for the needs of lenders of all sizes.
“Cloud Lending Solutions allows us to automate the entire leasing process, on a single system, from evaluating financial applications through servicing, collections and asset disposal. Leveraging the salesforce.com platform allows us to lower our operating costs, speed time to market and maintain strong relationships with our customers as we improve their overall experience.”
“Neyber’s mission is to create workplace communities that enable employees to borrow and save together at fairer rates. We set out to reduce the indebtedness of the UK workforce, and in turn, to increase staff engagement and productivity. In combination with our own proprietary technology, Cloud Lending Solutions’ platform will support the growth of our business and enable it to fulfil this mission.”
“Harmoney is not a bank or a finance company. Harmoney is a technology enabled financial marketplace that needed a robust receivables platform that was flexible, cost efficient and quick to implement. Cloud Lending allowed us to break away from legacy systems and reduce our time to market to a fraction of other alternatives.”
CEO and Founder, Harmoney
“With Cloud Lending Solutions we reduced an anticipated 6 to 12 month development cycle to less than 3 months. This dramatically changed our go-to-market strategy and helped us connect with consumers more quickly. Cloud Lending was the only end-to-end solution built natively on Salesforce – a strict requirement in our platform architecture. Throughout our partnership, Cloud Lending has been attentive to our needs, which has made it possible for us to deliver a reliable and secure cloud-based alternative to bank lending in less than 90 days.”
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